Code of Federal Regulations · Section
§ 589.328 — Payable-through Account
31 C.F.R. § 589.328
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The term payable-through account means a correspondent account maintained by a U.S. financial institution for a foreign financial institution by means of which the foreign financial institution permits its customers to engage, either directly or through a subaccount, in banking activities usual in connection with the business of banking in the United States.
Authorizing Statute
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Mode of recovery28 U.S.C. § 2461
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General authority of the Secretary31 U.S.C. § 321